Hong Leong Bank Launches Pay+

Hong Leong Bank Launches Pay+

10 June 2009

Hong Leong Bank (HLB) has once again created an industry's first by officially launching Pay+, the FIRST real-time online inter-bank funds transferservice via Internet Banking in Malaysia .

Pay+, a real time payment service that gives customers the flexibility to transfer their funds to any bank account via Hong Leong Online, is set to changethe banking landscape in Malaysia . Pay+ offers a wide range of benefits to customers beyond instantaneous funds transfers.

"Pay+ provides customers the option to transfer their funds to any bank account via online instantly. With Pay+, in a matter of seconds you can get aresponse of acceptance or rejection from participating banks giving you lots of time to exercise other options if necessary ," said Mr. Victor Khor, COOfor Technology & E-Banking, Hong Leong Bank.

"This eliminates the hassle of realizing days later that a check has bounced because of wrong assumptions on the bank balance or having to wait 1 to 3working days before payment is received through other alternative payment options today," noted Mr Khor. "Pay+ provides customers with immediateconfirmation at the point of payment. They can just check their account balance online and then within seconds, make a payment through Pay+ and receiveconfirmation of the payment. It is simple, secure, efficient, easy and instantaneous".

Mr Khor also stressed that besides providing safe and instant online inter-bank fund transfers to valued customers, Pay+ was also useful in case ofemergencies where money is needed immediately. "At present, there is no quick way of getting money to another bank electronically besides the expensive andoften time consuming payments systems and methods."

The demand for more innovative online banking solutions has grown exponentially over the years and with Pay+, Hong Leong Online (HLO) has once againstrengthened its position as leader in innovation. " We pride ourselves in meeting our valued customers wants and needs - our online services whileinnovative are secure and efficient giving customers peace of mind and a positive online banking experience. Pay+ is a perfect complement to our customers'constantly evolving mobile lifestyle," Mr Khor continued.

Mr Khor also noted that HLB's investment in technology provided the Bank with a competitive edge that differentiates itself from other players in theindustry. "Today, we are proud to be recognized for investing in a winning combination of technology, processes, analytics and talent to drive innovationof customer experience and business models."

"We endeavor to always provide customers with a personalized and rewarding Internet banking experience, where convenience, efficiency and privacy in thetransaction of financial services are of utmost priority," concluded Mr. Khor.